Insider Selling: Kellogg Foundation Trust Unloads 40,500 Shares of Kellogg Stock (K)
Kellogg (NYSE:K) major shareholder Kellogg Foundation Trust unloaded 40,500 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $61.00, for a total value of $2,470,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Kellogg in a research note to investors on Wednesday, October 2nd. They now have a $68.00 price target on the stock, down previously from $73.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Kellogg in a research note to investors on Wednesday, September 25th. They now have a $63.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Kellogg from a “neutral” rating to an “underweight” rating in a research note to investors on Tuesday, September 17th. They now have a $58.00 price target on the stock, down previously from $65.00. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $62.65.
Shares of Kellogg (NYSE:K) traded up 0.80% on Friday, hitting $61.45. The stock had a trading volume of 2,213,018 shares. Kellogg has a one year low of $51.36 and a one year high of $67.98. The stock has a 50-day moving average of $60.12 and a 200-day moving average of $63.51. The company has a market cap of $22.272 billion and a P/E ratio of 23.36.
Kellogg (NYSE:K) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.00 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.98 by $0.02. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the company posted $0.95 earnings per share. Kellogg’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Kellogg will post $3.77 earnings per share for the current fiscal year.
Kellogg Company (NYSE:K) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.
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